I tell you what BS, since anyone who read the last post where you turned out to be full of it yourself in the plays you claim I missed, why don't you try to explain how the AMZN or BIDU play are down big - I'm dying to see what line of BS you will need to come up with on those week-old butterfly spreads.
As to AXP, the position was the Jan $45 calls with the Aug $40 calls sold against. It's called a bear call spread and AXP is supposed to go down, that's how we make the money. Perhaps first get a grasp of the basics before criticizing...
MMark - Those are good points but you do understand that that was a quote from the Conde Naste article, not a product of my own research. The article had many nasty points about XOM so I suggest you read it in its entirety and comment on their site. If you have and article with substantiated links, I would be happy to link to it. If you read me often you know that one thing I always tell people is "don't believe what you read" whether from the right or the left. Anyway, thanks for that, I do enjoy hearing contrary views!
My main issue with XOM is they do spend more on stock buybacks, bonuses and dividends than they do on E&P. I don't think that's good for America or XOM in the long run.
LOL Win, you are getting your wish on weakness. We're scooping up GOOG at $480 today and the same old financials but overall, this is a nasty little drop. Maybe for show ahead of a turn around on Paulson at 2:30, we'll see.
Options Trader: Monday Outlook [View article]
As to AXP, the position was the Jan $45 calls with the Aug $40 calls sold against. It's called a bear call spread and AXP is supposed to go down, that's how we make the money. Perhaps first get a grasp of the basics before criticizing...
Options Trader: Monday Outlook [View article]
My main issue with XOM is they do spend more on stock buybacks, bonuses and dividends than they do on E&P. I don't think that's good for America or XOM in the long run.
LOL Win, you are getting your wish on weakness. We're scooping up GOOG at $480 today and the same old financials but overall, this is a nasty little drop. Maybe for show ahead of a turn around on Paulson at 2:30, we'll see.